Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

How much income do you need, and how much do you want?

I know in residential lending you can get a HELOC to borrow a down payment to buy another property. Does this exist in the commercial realm? Current value of paid off property is roughly 350k , looking to borrow 75k-1...

So lets say you own a home with $100k in equity but have zero income.

Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion. 

After that's under control, focus on increasing income through additional work at your current job, taking on a side hustle, or finding ways to increase income on your existing rental.At the same time, educate yourself.

The income of a property manager is dependent on whether you property is filled with tenants as well. 

Would you have net income or net loss without the cost seg study?

Great use of space and provides additional income to offset the monthly payment.Orlando, and many other cities, have a "missing middle" problem in regards to housing.